- On Tuesday, the DeFi project—which has the support of former President Donald Trump and his family—will begin selling WLFI tokens to the general public.
- On September 30, the project said that “thousands” of people had joined up.
On Tuesday, WLFI tokens from World Liberty Financial will go up for public sale. World Liberty Financial is a DeFi initiative that is supported by former President Donald Trump and his family.
Important announcement! The public sale for @WorldLibertyFi is set to begin on October 15th and is available to all eligible individuals on the whitelist. To find out more, join us on October 14 at 8 AM EST for a Twitter Spaces. Watch this space for updates! The project stated on Friday afternoon in a post on X.
According to the project roadmap, WLFI’s “initial sale” will attempt to raise $300 million. It will sell 20% of the token supply at a fully diluted worth of $1.5 billion. On September 30, the initiative said that “thousands” of people had joined up.
A live webcast last month revealed that 63% of WLFI tokens would be sold to the general public, 17% would be used for user rewards, and 20% would be used for team pay. Accredited investors in the United States, qualified investors in the United Kingdom, and investors outside of those nations can access WLFI.
Under the direction of co-founders Steve and Zach Witkoff, Zach Folkman, and Chase Herro, World Liberty Financial seeks to encourage the broad use of digital assets by providing an all-in-one, completely compliant platform for alternative finance.
WLF plans to launch Aave, the first of three stages of a DeFi lending platform that would let users lend and borrow tokens on the Ethereum mainnet and Layer 2 network Scroll, including bitcoin, ether, and stablecoins.
WLF’s Aave v3 instance will launch, enabling users to borrow or lend ETH and WBTC tokens, as well as USDC and USDT stablecoins, per its formal governance proposal on the Aave forum. Depositors will receive interest on lending fees, just like they do with Aave.
The team anticipates onboarding assets that might not be suitable for the main market on Ethereum Mainnet by utilizing its ties to institutional investment and traditional banking.
The Republican presidential candidate’s eldest sons, Eric and Donald Trump Jr., originally hinted at the DeFi project back in August. Crypto supporters and detractors claim that WLF causes more harm than good.
The creation of World Liberty Financial by the Trump family would diminish the likelihood of crypto market structure legislation being passed if Trump wins the election, according to a recent note from Jaret Seiberg of TD Cowen Washington Research Group.
This is due to the fact that Democrats will be politically motivated to oppose any legislation that is thought to benefit the Trump family.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
